The ministry of defence, on Saturday, noted that the defence sector has undergone a remarkable transformation in the past decade, evolving from a largely import-dependent military force to one increasingly focused on self-reliance and indigenous production.
As one of the strongest military powers globally, India holds a pivotal role in ensuring regional security and fulfilling strategic goals, the ministry pointed out.
The statements from the ministry defence budget saw a major increase in allocation from Rs 2,53,346 crore in 2013-14 to Rs 6,21,940.85 crore in 2024-25 and Rs 6,81,210 crore for the current financial year.
The ministry acknowledged that the defence manufacturing industry played a pivotal role in the transformation journey of the sector, aided by 'Make in India' initiative and policy reforms.
The government has actively promoted domestic production and reduced reliance on foreign procurement, the ministry said and added that this shift has been a key component of India’s broader vision of achieving self-reliance in the sector.
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Such initiatives have positioned India as an emerging hub for the production of advanced military technologies and equipment, the ministry noted.
Defence production saw a phenomenal increase of nearly 174 per cent— from Rs 46,429 crore in 2014-15 to Rs 1.27 lakh crore in 2023-24. The country aims to reach Rs 3 lakh crore in defence production by 2029.
There has been a significant increase in defence exports too, from Rs 1,941 crore in the financial year (FY) 2014-15 to Rs 21,083 crore in FY 2023-24.
Driven by government policy reforms, ease of doing business initiatives, and a push for self-reliance, India now exports to over 100 nations, with the top three destinations for exports in 2023-24 being the USA, France, and Armenia.
India seeks to achieve the target of increasing defence exports to Rs 50,000 crore by 2029.
"India’s defence sector has made unprecedented strides over the past decade, driven by a strong policy push towards self-reliance and domestic manufacturing," the ministry said, adding that the rise in defence production and exports underscores the country’s growing capability as a global defence manufacturing hub.
“By leveraging innovation, strategic partnerships, and indigenous capabilities, India is well-positioned to play a pivotal role in the future of global defence manufacturing and security,” it added.